Cerence Inc [NASDAQ: CRNC] loss -4.65% or -0.64 points to close at $13.12 with a heavy trading volume of 5087666 shares.
The daily chart for CRNC points out that the company has recorded 321.86% gains over the past six months.
If we look at the average trading volume of 7.33M shares, CRNC reached to a volume of 5087666 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Cerence Inc [CRNC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRNC shares is $7.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRNC stock is a recommendation set at 2.71. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Cerence Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 10, 2024. While these analysts kept the previous recommendation, Needham raised their target price to Hold. The new note on the price target was released on May 07, 2024, representing the official price target for Cerence Inc stock. Previously, the target price had yet another raise to $22, while Craig Hallum analysts kept a Hold rating on CRNC stock. On February 09, 2023, analysts increased their price target for CRNC shares from 24 to 40.
The Average True Range (ATR) for Cerence Inc is set at 2.28, with the Price to Sales ratio for CRNC stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 3.90, with the Price to Cash per share for the same quarter was set at 2.95. Price to Free Cash Flow for CRNC in the course of the last twelve months was 47.88 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for CRNC stock
Cerence Inc [CRNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -34.99. With this latest performance, CRNC shares gained by 73.54% in over the last four-week period, additionally plugging by 321.86% over the last 6 months – not to mention a drop of -31.95% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRNC stock in for the last two-week period is set at 57.16, with the RSI for the last a single of trading hit 53.23, and the three-weeks RSI is set at 59.17 for Cerence Inc [CRNC]. The present Moving Average for the last 50 days of trading for this stock 7.53, while it was recorded at 15.33 for the last single week of trading, and 5.49 for the last 200 days.
Cerence Inc [CRNC]: A deeper dive into fundamental analysis
Cerence Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
An analysis of Institutional ownership at Cerence Inc [CRNC]
There are presently around $83.41%, or 88.49%% of CRNC stock, in the hands of institutional investors. The top three institutional holders of CRNC stocks are: VANGUARD GROUP INC with ownership of 3.98 million shares, which is approximately 9.5398%. AMERICAN CAPITAL MANAGEMENT INC, holding 3.88 million shares of the stock with an approximate value of $$10.98 million in CRNC stocks shares; and AMERICAN CAPITAL MANAGEMENT INC, currently with $$9.35 million in CRNC stock with ownership which is approximately 7.9179%.
